VAT-registered persons are sole traders and companies that reach over 50,000 Euro in sales turnover in their last 12 months of operations.
A monthly return is submitted by newly established VAT-registered persons and by VAT-registered persons with over 210 thousand Euro in sales turnover, while all others are subject to trimonthly returns. Applicable legislation also determines specificities and these change during the year’s payment of liability period. At the beginning of the calendar year, the Financial Administration automatically carries out a change of period depending on the data that pertains to the turnover of goods and services that is disclosed on the VAT Returns for the previous calendar year.
VAT charged on issued invoices is reduced by the value of VAT charged on the invoices received (accounts payables) for goods and services that are directly related to your business activity.
The difference in the Return is the liability that is to be paid or the overpayment that may be refunded.
A company may be entitled to a VAT refund from another EU member state in which it is not headquartered whenever it has, in the purchase of goods or services, paid VAT in that member state.
Some EU member states do not permit a VAT refund for some categories of expenses (i.e. hospitality services and entertainment, car rental, fuel, etc.). A claim for the VAT refund must be submitted electronically online to the relevant authorities of the state in which the company is headquartered.
Claims for a refund of VAT that was paid in third states may be submitted following the expiry of the calendar year in which the VAT was charged. It should be noted that reciprocity with these countries must first be verified with the Financial Administration of the Republic of Slovenia (FURS). A claim for a VAT refund in a foreign country must be accompanied by all original invoices that are the subject of the claim as well as all other proofs (i.e. a certificate by the competent authority of the state in which the company is headquartered which establishes that the entity is a taxable person liable for VAT in that state, the certificate must not be older than one year), in accordance with the legislative provisions of the state in which the claim is made.
No. Paying an invoice over PayPal means that the invoice is not paid in cash. Fiscal verification of invoices is not required for invoices that are settled over PayPal.
DThe VAT Return form is submitted electronically via e-davki (electronic tax operations).
Deadlines are determined on the basis of the reporting period and the specificities of submitting the VAT Return and also depend on the status of the taxable person and the type of business activity carried out, namely: by the last business day of the month following the expiration of the tax period or the 20th day of the month following expiration of the tax period if carrying out transactions within the EU.
It is necessary to differentiate between certain factors:
Conducting business with companies within the EU
*The supply of goods to another EU member state is exempt of VAT in Slovenia (on the basis of Article 46 of ZDDV-1), provided the buyer has a valid ID-number and written confirmation that the goods have left the territory of Slovenia (shipping or other applicable documentation).
*In the taxation of services, it is first necessary to verify the rules for determining the location of taxation in accordance with ZDDV-1, along with a valid ID-number of the client from the EU member state and is also exempt of DDV as per paragraph 1 of Article 25 of ZDDV-1,
Export of goods and services to countries outside of the EU
*To export goods, you must obtain export documentation or an applicable postal declaration. Irrespective of the customer status, the invoice is issued without charging Slovenian VAT and by indicating the clause: Exempt of VAT as per point a) of the first paragraph of Article 52 of ZDDV-1.
*To export services abroad, you must issue an invoice without charging Slovenian DDV and indicate the clause: reverse tax charge – VAT is not charged as per paragraph 1 of Article 25 of ZDDV-1. However, you must first verify the type of service performed and whether the service is subject to any special tax rule.
Annual reports – 3 months following the end of the fiscal year Audited and Consolidated annual reports – 8 months following the end of the fiscal year. Date: by the end of the month of March.
Sole traders :
3 months following the end of the fiscal year (or by the end of the month of March for the previous year).
Legal persons of public law:
by the end of the month of February
Non-profit organizations, legal entities of private law:
by the end of the month of February
Both portals make several methods possible: XML-files, imported into the web application.
(in PDF file) or direct input into the portal application
Legislation does not prescribe mandatory bookkeeping for normalized expense sole traders because they have the possibility to determine the tax base on the basis of flat-rate expenses, but they still keep certain records. It is recommended that a flat-rate expense self-proprietorship authorize an accountant to prepare and submit the annual Tax Return.
In this case, we prepare mid-year Balance Sheets that disclose balance sheet and income statement data. This is auxiliary data for the current business year for the purpose of determining the credit rating and the criteria that a bank requires for approval of their agency.
An employee’s salary or wages are determined upon the conclusion of an employment contract. The minimum wage for a full day of work is determined by government legislation. If the employee works for half the work time, he is entitled to a proportionate share of the minimum wage. The employee is entitled to a payment of salary each month by the 18th day of the month for the previous month. The payment of salary must also include all allowances and additional benefits.
In addition to a salary, the employee is also entitled to compensation for meals and travel to work. The amount of such compensation is also determined in the tariff section of the Decree on the levels of reimbursed work-related expenses and of certain income not to be included in the tax base, which change upon government decree.
An employee is entitled to annual holiday pay. The holiday pay must be paid by July 1st. A collective agreement on the level of activity may In the event of insolvency of the employer, a later deadline for the payment of the holiday pay may be determined on the basis of a collective agreement at the level of activity, but no later than November 1st of the current calendar year. In the event that the employee has a shorter work time, he is paid a proportionate share of the holiday pay. In the event the employee is employed for a shorter work time due to special circumstances (parental care, illness, etc.) he is nonetheless entitled to the entire holiday pay.
An employee obtains the right to annual vacation upon concluding an employment relationship. Annual vacation in an individual calendar year must not be shorter than 4 weeks, irrespective of whether the employee works full- or part-time hours. For each individual employee, the minimum number of annual vacation days depends on the distribution of working days in the week. An employee has the right to 1 additional annual vacation day for each child who has not yet reached 15 years of age.
The Employment Relationship Act in Article 130 determines that an employer must also ensure an employee the reimbursement of expenses incurred on a business or work trip:
+ costs for overnight stay allowances
+ subsistence cost
+ road tolls, tunnels, parking
+ air and other transport services
The amount of reimbursement is determined by the Decree on the levels of reimbursed work-related expenses and of certain income not to be included in the tax base, which varies by government decree.